Antiquorum, the Swiss auction house, hit the headlines during the week when a Patek Philippe Nautilus watch sold for an astounding 320,000 euros at its sale at the Hôtel de Paris. What made the watch special was the fact that it was still in its plastic wrapping and had never been worn.

The model will also be discontinued in the next few months, adding to its desirability. There had been estimations that the watch could reach up to $180,000.

The green-faced watch – the Patek Philippe Nautilus 5711/1A-014 Olive Green – has an official retail price of 30,400 euros.

Enthusiasts are horrified. The website wrote: “The market… isn’t there anymore to serve proper watch enthusiasts but only “flippers” and so-called investors with zero interest in what this watch actually represents in terms of watchmaking and history.”

PHOTO: The afternoon session of the Antiquorum sale was very relaxed after the Nautilus sold in the morning Ian Brodie